Global Process Analyzer Market 2019-2023 | Evolving Opportunities with ABB and Emerson Electric Co. | Technavio
Technavio has been monitoring the global process analyzer market since 2014 and the market is poised to grow by USD 1.86 billion during 2019-2023, progressing at a CAGR of nearly 5% during the forecast period. Request Free Sample Pages
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Technavio has announced its latest market research report titled global process analyzer market 2019-2023. (Graphic: Business Wire)
Read the 135-page research report with TOC on "Process Analyzer Market Analysis Report by end-user (oil and gas; chemical and petrochemical; healthcare; water and wastewater treatment; and others), geography (North America, APAC, Europe, MEA, and South America), and Segment Forecasts, 2019 - 2023".
The market is driven by the capacity additions in major end-user industries. In addition, the increasing acceptance of Raman spectrometers is anticipated to further boost the growth of the process analyzer market.
End-user industries like healthcare, food and beverage, and petrochemicals are increasingly focusing on capacity additions due to the rising demand for industrial and consumer products. Process analyzers are used in end-user sectors to monitor the chemical composition of final products by measuring the concentration of various gases in petrochemical production plants. Similarly, oxygen and moisture process analyzers are used in the food and beverages and healthcare sector to ensure the quality of food products. With growing capacity additions, the coming years will witness an increased need for process analyzers, which is one of the critical reasons that will drive process analyzer market growth.
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Major Five Process Analyzer Market Companies:
ABB
ABB owns and operates businesses under various segments such as electrification products, robotics and motion, industrial automation, and power grids. The company offers LGR-ICOS 950. It is a laser process analyzer to measure gas concentration with high sensitivity.
Emerson Electric Co.
Emerson Electric Co. operates its business under two segments, which include automation solutions, and commercial and residential solutions. The company’s key offerings include Rosemount 570. It is a field-mounted chromatograph for natural gas pipeline applications.
Endress+Hauser Management AG
Endress+Hauser Management AG offers 4-channel transmitter Liquiline CM444. It is an expandable multiparameter field device for process industries. In October 2017, the company acquired Blue Ocean Nova AG. The acquired entity is headquartered in Germany and manufactures spectrometers for online analysis of liquids, solids, and gases.
Honeywell International
Honeywell International operates its business under four segments, which include aerospace; home and building technologies; performance materials and technologies; and safety and productivity solutions. The company’s key offering includes Analyzer-UDA2182. It is a dissolved oxygen analyzer designed for applications in water treatment and processed food plants.
Schneider Electric
Schneider Electric has business operations under various segments, which include low voltage, medium voltage, industrial automation, and secure power. The company’s key offering in the process analyzer market include MGA 1200EC. It is a process mass spectrometer that provides a real time analysis of up to 15 gas components in multiple gas streams.
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Process Analyzer End-User Outlook (Revenue, USD Million, 2019 - 2023)
- Oil and gas
- Chemical and petrochemical
- Healthcare
- Water and wastewater treatment
- Others
Process Analyzer Regional Outlook (Revenue, USD Million, 2019 - 2023)
- APAC
- Europe
- MEA
- North America
- South America
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View source version on businesswire.com: https://www.businesswire.com/news/home/20191113005656/en/
